Barriers in Bangladesh’s RMG sector : survival of the RMG sector in the growing international competition
Arafat, Md Yeasin (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi-fe20241218104106
https://urn.fi/URN:NBN:fi-fe20241218104106
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A significant portion of Bangladesh's GDP is derived from the Ready-Made Garment (RMG) indus-try. It is also the principal export business of this nation. Though, the RMG sector of Bangladesh is struggling more and more to stay up with global competitiveness. This study covered barriers includ-ing poor worker production, a limited selection of items, a lack of two-way trade partnerships, and low sales destination count in RMG sector of Bangladesh.
The RMG company in Bangladesh finds it difficult to expand among all these issues. Vietnam, China, and India have greater technological investments and more smart trade agreements than other nations, so they are becoming more competitive. Moreover, this made these underlying issues much more dif-ficult to address. Based on a survey method having participants of 31 RMG industry employees in Bangladesh, the study indicated that the sector is quite competitive. Still, the sector must adjust to global events if it is to maintain its market share.
From what was discovered, it is evident that the industry cannot survive and flourish without greater government assistance, more technological investments, improved trade agreements, and more com-petent workforce. Bangladesh must boost the quantity of international markets and goods it exports if it is to become less reliant on Western markets and low-margin consumer commodities. This empha-sized how crucial it is to use sustainable practices in order to satisfy the demands of the global market and stay with the competition that will surface in the future.
The RMG company in Bangladesh finds it difficult to expand among all these issues. Vietnam, China, and India have greater technological investments and more smart trade agreements than other nations, so they are becoming more competitive. Moreover, this made these underlying issues much more dif-ficult to address. Based on a survey method having participants of 31 RMG industry employees in Bangladesh, the study indicated that the sector is quite competitive. Still, the sector must adjust to global events if it is to maintain its market share.
From what was discovered, it is evident that the industry cannot survive and flourish without greater government assistance, more technological investments, improved trade agreements, and more com-petent workforce. Bangladesh must boost the quantity of international markets and goods it exports if it is to become less reliant on Western markets and low-margin consumer commodities. This empha-sized how crucial it is to use sustainable practices in order to satisfy the demands of the global market and stay with the competition that will surface in the future.